Freehold Retail Investment
Freehold Retail Investment
Staple Hill is a residential suburb 4 miles east of the city centre. The property occupies a prominent corner location opposite a Tesco Superstore, at the junction of Broad Street and Byron Place. Broad Street is the main retail thoroughfare in the town.
Freehold.
Staple Hill is a residential suburb 4 miles east of the city centre. The property occupies a prominent corner location opposite a Tesco Superstore, at the junction of Broad Street and Byron Place. Broad Street is the main retail thoroughfare in the town.
Freehold.
The property comprises a single storey retail store with extensive frontage to Broad Street, together with a car park to the rear, with access off Byron Place. In addition there are 2 advertising hoardings.
VAT is applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
The property comprises a single storey retail store with extensive frontage to Broad Street, together with a car park to the rear, with access off Byron Place. In addition there are 2 advertising hoardings.
VAT is applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
| Floor | Use | Floor Areas (Approx) | Tenant | Term | Rent p.a.x | Reviews | |
|---|---|---|---|---|---|---|---|
| Ground | Retail |
683.77 sq m |
7,360 sq ft |
THE FACTORY SHOP LTD (t/a The Original Factory Shop) (1) |
15 years from 08/08/2011, until 07/08/2026 (2) (3) |
£55,000 | Rising to £62,227 on 08/08/2016 and £70,404 on 08/08/2021 |
| Advertising | LIBERTY OUTDOOR MEDIA LTD |
3 years from 01/03/2011 | £825 | ||||
| Advertising | PRIMESIGHT LTD | 2 years from 24/12/2009 (4) | £450 | ||||
| Totals | 1,544.41 sq m |
(16,624 sq ft) |
£56,275 | ||||
(1) For the year ending 27th March 2011, The Factory Shop Ltd reported a turnover of £136,092,000, pre-tax profits of £9,760,000 and a net worth of £24,137,000. (Source: www.riskdisk.com 22/09/2011)
(2) The lease provides for a fixed rental uplifts on 8th August 2016 and 8th August 2021.
(3) The lease is excluded from Sections 24-28 of the Landlord & Tenant Act 1954.
(4) There is an option to extend the lease for a further year upon expiry of the agreement.
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